Foreign exchange morning paper Yesterday’s important news 1. Fed discount window lending fell to $88.2 billion, new facility BTFP rose to $64.4 billion, and FDIC transition bank lending rose to $180 billion. 2. The White House on Thursday called on federal bank regulators to work with the Treasury Department to implement a series of changes to tighten rules. The proposed changes include reinstating regulatory measures such as liquidity rules, tougher stress tests and so-called “living wills” for banks with assets of between $100bn and $250bn — the size of Silicon Valley banks. 3, the Fed “hawkwind” and continued to stress its determination to fight inflation. ‘Falling commercial real estate values are a real risk to the banking sector, but there is enough money to withstand it,’ said Richmond Fed President Eric Barkin. ‘We will continue to raise rates if inflation risks persist.’ Boston Fed President Collins said banks are sound and will continue to tighten policy to fight inflation, with no rate cuts this year. Minneapolis Fed President Neel Kashkari, who has argued that banking risks could increase the likelihood of a recession, said inflation must be fought, that the 2 percent target would not be changed, and that it would take time to fully eliminate bank stress. 4. Us initial hiring rose modestly to 198,000, beating estimates of 196,000 and 191,000, the first rise in three weeks but still low to historical averages. Separately, the final estimate of US real GDP in the fourth quarter was revised down to an annualised 2.6%; The final fourth-quarter core PCE price index was revised up to a 4.4% annualized rate. The final fourth-quarter real personal consumption expenditures quarterly rate was revised down to 1 percent. 5, Putin signed the spring conscription decree: from April 1 to July 15, 147,000 people will be drafted into the Russian armed forces. 6. Opec + is unlikely to change its oil policy at talks next Monday, according to five Opec + delegates. 7. Trends in Banking turmoil Money flowed into money market funds, and the total size of the U.S. Treasury reached a record $5.2 trillion. 8. The Swiss parliament approved SFr109bn in emergency loans for UBS’s acquisition of Credit Suisse. 9. The Reserve Bank of New Zealand announced that it would increase the level of foreign exchange reserves over the next few years. 10, the London Metal Exchange will adopt a new calibration method to determine the daily price ceiling. Plans to launch a new spot nickel market in China. Daily price caps will become permanent, with a 12 per cent cap on aluminium and copper. 11. The European Union announced an agreement on a 2030 renewable energy target, whereby member states would get 42.5 percent of their energy from renewable sources such as wind by 2030. 12. The New York Times reported Wednesday that a grand jury in Manhattan, New York, voted to indict former US President Donald Trump on charges of paying porn star Daniels Daniels hush money and falsifying business records during his 2016 campaign. Specific charges will be announced in the coming days. Mr Trump would be the first former US President to face criminal charges. Today’s focus is on data and events 17:00 Preliminary March CPI Y/Y for the eurozone 20:30 US core PCE price index annual rate for February 22:00 Federal Reserve Governor Richard Barr testifies before the House Financial Services Committee 23:00 European Central Bank President Christine Lagarde speaks The fundamentals and technical training course is updated regularly on a weekly basis. The course explains foreign exchange related knowledge points systematically and in detail. B station video: space.bilibili.com/68967327/#/ Watermelon video: https://www.ixigua.com/home/1675277877643454/?list_entrance=search Students who like the teacher can add the teacher’s wechat account: 15123332022 or the QR code below to get one-on-one guidance from the teacher. Every working day there are financial morning news, yesterday’s market review, today’s trading strategy, market outlook, real-time call single, single analysis.